Rather than try to build itself into a direct competitor to the Big Three US long distance telephone companies, Alltel Corp, Hudson, Ohio has decided to devote its resources to diversifying into related businesses, and following its move into cellular services, it is now going into computer services and has agreement to acquire Systematics Inc, which develops software and provides facilities management for financial institutions in Little Rock, Arkansas. It has agreed to issue 16m new shares for Systematics, valuing the firm at $528m. Systematics did $18.9m on turnover of $206.8m in the year to May 31 last and $9.4m on turnover of $113m in the six months to November 30.
